In the News

Commerce Magazine

May 01, 2018

Sills Cummis & Gross Managing Partner
Max Crane was interviewed about the evolving business climate in the nation and
in New Jersey.

As seen in this article, “‘President Trump has loosened some
burdensome regulations, which is good for businesses,’ explains Crane. ‘Generally,
more regulations mean more activity for law firms. On the flip side, Gov.
Murphy has indicated he wants more government involvement in a variety of
areas, such as the environment and labor laws.’ Gov. Murphy has also talked
about expanding access to medical and recreational marijuana. ‘Implemented in a
responsible way, this could represent a new source of revenue for businesses
and for law firms,’ says Crane. ‘Sills Cummis entered this area early; in 2015
we launched our venture capital-regulated substances practice. Sills Cummis
Co-Founder Clive Cummis was involved in the early efforts to legalize gaming in
New Jersey, and casinos had a rogue reputation initially, but became a sizable
part of the state’s economy.’

Changes to the federal tax code, including accelerated
depreciation and lower corporate tax rates, should mean more money for
businesses, ‘which will ultimately benefit our consumer-driven economy,’ says
Crane. But ‘new limits on individuals’ deduction for state and local taxes
(SALT) is not good for many New Jersey residents. We recently hired a SALT
expert to serve this new business.’”